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Trammell founded Tramco in 1967. The company manufactures bulk material-handling conveyors and does business in every state and 57 countries.

"I did not give myself a chance to fail," Trammell says. "You just can not have a failure plan. If you have a failure plan, you'll probably fail."

So what's his plan for success?

"You need a niche, and then be persistent," Trammell says, quickly adding, "But you know, being persistent is kind of elusive.

"I've been persistent on an investment I made, and it hasn't paid out."

Trammell says you have to relentlessly pursue being excellent.

"Whatever you do you have to be the best at it," he says. "You never share with your neighbor a mediocre job on anything, do you? No, you share the good job. The good service. So you have to be the best.

"Then it boils down to the Golden Rule. And I know that is hokey. . . . But you have to treat people the way you want to be treated."